Overview

• SEBI whole-time member Kamlesh Varshney disclosed a "big search operation" against a prominent influencer in Mumbai, framing it as a deterrence move.
• According to multiple reports, a court-approved search-and-seizure took place Aug. 20–21 at a Karjat trading academy, with digital devices and trading records taken for forensic analysis.
• Media accounts identify the target as Avadhut Sathe’s academy, though SEBI has not officially named an individual.
• NDTV Profit and other outlets report alleged illegal gains in the range of Rs 400–500 crore, a figure not formally confirmed by the regulator.
• Sathe has told students his organisation does not provide tips or advisory services and says his team is cooperating, as SEBI examines complaints that some academies may push penny stocks in classes.